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First Business Financial Services Inc. Acquires Shares of 1,192 GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

First Business Financial Services Inc. bought a new position in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,192 shares of the company's stock, valued at approximately $239,000.

Several other hedge funds have also recently bought and sold shares of GE. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace during the 1st quarter valued at $203,000. Sendero Wealth Management LLC boosted its position in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. National Bank of Canada FI boosted its stake in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after buying an additional 29,844 shares during the period. Finally, Global Assets Advisory LLC grew its stake in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup restated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday. Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $229.50.

View Our Latest Report on GE

GE Aerospace Trading Down 2.2%

Shares of GE stock traded down $5.96 on Thursday, reaching $260.22. 16,250,824 shares of the stock were exchanged, compared to its average volume of 5,635,866. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market cap of $277.50 billion, a PE ratio of 40.47, a P/E/G ratio of 3.17 and a beta of 1.37. The stock has a 50 day moving average price of $242.49 and a 200 day moving average price of $210.45. GE Aerospace has a one year low of $150.20 and a one year high of $279.71.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company earned $1.20 EPS. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace's payout ratio is 22.40%.

Insider Activity

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

About GE Aerospace

(Free Report)

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.

See Also

Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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